China Banks and Insurance Stocks Close Higher at Hong Kong Stock Exchange

HONG KONG – China Banks and Insurance sector rallied on Friday’s trading at the Hong Kong Stock Exchange, with nine stocks ending the week in the green.

Minsheng Bank (HKE:01988) led the sector’s gainers as it rose 2.902 percent on Friday to trade at 7.80 at the close, followed by ICBC (HKE:01398), which gained 2.26 percent to end the day at 4.98.

Citic Bank (HKE:00998)’s stock gained 1.63 percent to trade at 4.99 at the close, followed by ABC (HKE:01288), whose stock gained 1.60 percent to 3.17 a share.

CCB (HKE:00939) was up 1.049 percent, while BankComm (HKE:03328) increased by 1.05 percent. BCQ (HKE:01963) gained 0.71 percent, while ShengJingBank (PSE:02066) traded 0.57 percent higher to close at 10.54.

Only the stock of CQRC (HKE:03618) posted a decline, falling 0.42 percent to trade at 4.70 a share at the close. – BusinessNewsAsia.com

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